This 2-flat at 1335 W. Newport, just steps from Southport and the Brown Line El stop in Lakeview, has been on and off the market since August 2009.
Yes, that is the El line running directly behind the property.
Built in 1908 on a 30×120 lot, this 2-flat brownstone has the following units:
- Unit #1: 2 bedrooms, 1 bath, dining room, rented for $1800 a month (including 1-garage parking space)
- Unit #2: 2 bedrooms, 1 bath, dining room, rented for $1850 a month (including 1-garage parking space)
Each unit has its own gas, heat and central air.
The kitchens have been upgraded with Unit #2 sporting white cabinets and stainless steel appliances. The listing also says the bathrooms have been updated.
The 2-flat has maintined some of its vintage features such as the hardwood floors throughout and the original woodwork.
At what price do these multi-units make investment sense?
Joaquin Calle at @Properties has the listing. See the pictures here.
1335 W. Newport: 4 bedrooms, 2 baths, 2 car garage, multi-unit
- Sold in June 1987 for $100,378
- Sold in July 1993 for $285,000
- Sold in May 2001 for $599,000
- Sold in March 2004 for $617,500
- Originally listed in August 2009 for $749,000
- Reduced several times
- Listed in October 2010 for $650,000
- Currently still listed for $650,000
- Taxes of $10,535
- Rental income: $47,400
- Individual gas/heat/Central Air